Ending a nearly two month-long struggle to remain in control, Jet Airways’ power couple Naresh Goyal and his spouse Anita Goyal on Monday resigned as directors from the board of the company. Their exit paves the way for recapitalisation of the financially challenged airline through a resolution plan.
The resignations of Mr. and Mrs. Goyal were accepted at a hurriedly convened board meeting here. Mr. Goyal, a former travel agent who founded Jet Airways in 1993, also ceased to be the chairman of the company, ending his 25-year tenure at the helm. Another director Kevin Knight, who represented Etihad Airways on Jet’s board, has also resigned. The future role of Etihad in the Indian carrier remains unclear.
With Monday’s resignations and following a fresh board approval, the banks will soon take charge of the airline with a 50.1% stake.
